MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
JAIN ELECTRICALS |
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Registered Office : |
21/A, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1977 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Bharat Bijlee TEFC Sq. Cage, Crane and Slip Ring Motors,
ABB Motors and Drives, Crompton Kirloskar, Control Panels and Kirloskar pumps. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Proprietor is reported as experienced and respectable
businessman. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Godown : |
21/A, |
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Tel. No.: |
91-33-22304040 |
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Fax No.: |
91-33-22303959 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Deep Chand Bardia |
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Designation : |
Proprietor |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Under Graduate |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Bharat Bijlee TEFC Sq. Cage, Crane and Slip Ring
Motors, ABB Motors and Drives, Crompton Kirloskar, Control Panels and Kirloskar pumps. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
Asian and European Countries |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users |
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No. of Employees : |
10 |
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Bankers : |
Union Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N K Doshi and Company Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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40.000 |
35.000 |
Expected Sales (2007-08) : Rs. 50.000 millions.
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
The most reputed
brand since 1977 dealing in a range of sophisticated electrical products...
Their consistent growth has spanned around three decades, during which they
have unveiled excellent performance and a number of leading-edge innovations. Jain Electricals, a 100% export
oriented company, was established in the year 1977 with a modest beginning, yet
with a big dream. Growing from strength to strength over the years, they have
established theirselves as a leading exporter
and supplier of a massive range of products such as Bharat Bijlee Motors, ABB Motors and Drives,
TEFC Sq. Cage Crane Duty and Slip Ring Motors, Kirloskar Pumps, Control Panels,
etc.
They take great pride in the values they stand for and strive to extend the boundaries of how technology can help them. For the last three decades, they have been continually launching innovative products into the market winning the trust of thousands of their satisfied clients from all over the world. They are of the belief that meeting the exact requirements of the clients beyond their expectation is the driving force of their company.
Backed with rich experience and with the ability to embrace the evolution of technology, Jain Electricals has created a niche at both the domestic and international market as a highly reputed manufacturer, exporter and supplier of a premium range of products. Their product basket includes the following items-
- Bharat Bijlee TEFC Sq. Cage, Crane and
Slip Ring Motors
- ABB Motors and Drives
- Crane and Slip Ring Motors – Alstom,
Crompton Kirloskar
- Control Panels, Kirloskar Pumps.
Quality
Inspired by a committed attitude to deliver cutting edge products at highly
affordable price, Jain Electricals' chief endeavor has always been focused upon
developing products which exhibit advanced features and deliver great
performance. Every product is checked as per varied national and international
quality norms and after that, delivered to their valued clients. This extreme
quality consciousness is also reflected in all the spheres of their business
operation from efficient product delivery to highly reliable after sales
service.
Infrastructure
With a robust infrastructural base and their unrivaled technical expertise to
make the best use of it, Jain Electricals is today a best trade leader in its
field. All these units are loaded with cutting edge machinery enabling them to
manufacture, test and develop products as per the latest technology which
confirms precision, ultimate quality and enhanced performance. In addition,
they are empowered with a committed and competent workforce elevating the
status of their company to the zenith of prominence.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.94 |
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1 |
Rs.82.26 |
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Euro |
1 |
Rs.55.59 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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